Resource Financial Services Mortgage Rates, Fees & Info
COLUMBIA, SCLEI: 549300916KMYQ118CX89
Tax ID: 57-1102490
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Mortgage Data
Review & Overview
Resource Financial Services is a smaller mortgage company specializing in Refi and Home Purchase loans. Resource Financial Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbia, Raleigh, Jacksonville, Greenville, and Durham among others. We have data for 85 markets. (Some data included below & more in-depth data is available with an active subscription.)Resource Financial Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Resource Financial Services is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 4/21/24 |
| 30 Year Conventional Refi | 6.74% | 4/21/24 |
| 30 Year Cash-out Refi | 6.88% | 4/21/24 |
| 30 Year FHA Purchase | 7.38% | 4/21/24 |
| 30 Year FHA Refi | 7.01% | 4/21/24 |
| 30 Year VA Purchase | 6.35% | 4/21/24 |
| 30 Year VA Refi | 5.80% | 4/21/24 |
| 30 Year USDA Purchase | 6.45% | 4/21/24 |
| 15 Year Conventional Purchase | 5.97% | 4/21/24 |
| 15 Year Conventional Refi | 5.97% | 4/21/24 |
| 15 Year Cash-out Refi | 5.97% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Resource Financial Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,017Origination Dollar Volume (All Markets)
$735,425,000Awards
RESOURCE FINANCIAL SERVICES - 2020
RESOURCE FINANCIAL SERVICES is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 766 | $180,960,000 | $236,240 | $3,672 | 2.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 492 | $143,130,000 | $290,915 | $2,677 | 2.97% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 463 | $109,815,000 | $237,181 | $4,831 | 3.19% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 190 | $46,620,000 | $245,368 | $3,479 | 3.08% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 135 | $34,975,000 | $259,074 | $2,673 | 3.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 108 | $27,750,000 | $256,944 | $3,960 | 3.05% |
| SUMTER, SC (FHA|USDA|VA) | 152 | $23,880,000 | $157,105 | $4,614 | 3.08% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 93 | $21,425,000 | $230,376 | $3,285 | 2.89% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 53 | $16,605,000 | $313,302 | $3,864 | 3.19% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 48 | $15,040,000 | $313,333 | $3,414 | 2.89% |
| SPARTANBURG, SC (FHA|USDA|VA) | 66 | $12,750,000 | $193,182 | $3,704 | 3.12% |
| Outside of Metro Areas | 50 | $10,700,000 | $214,000 | $4,447 | 3.31% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 36 | $9,590,000 | $266,389 | $4,293 | 3.01% |
| MOBILE, AL (FHA|USDA|VA) | 35 | $6,335,000 | $181,000 | $3,406 | 2.94% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 23 | $5,265,000 | $228,913 | $2,457 | 2.92% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 18 | $4,850,000 | $269,444 | $3,403 | 2.85% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 18 | $4,520,000 | $251,111 | $5,775 | 2.72% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $3,985,000 | $306,538 | $5,804 | 3.03% |
| FLORENCE, SC (FHA|USDA|VA) | 21 | $3,825,000 | $182,143 | $5,802 | 3.23% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 18 | $3,580,000 | $198,889 | $2,504 | 3.17% |
| Newberry, SC (FHA|USDA|VA) | 10 | $2,750,000 | $275,000 | $4,230 | 2.84% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $2,715,000 | $301,667 | $3,762 | 3.19% |
| ASHEVILLE, NC (FHA|USDA|VA) | 10 | $2,640,000 | $264,000 | $3,214 | 3.18% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 10 | $2,420,000 | $242,000 | $3,101 | 2.78% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 7 | $2,245,000 | $320,714 | $5,433 | 3.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 10 | $2,220,000 | $222,000 | $2,949 | 2.88% |
| Boone, NC (FHA|USDA|VA) | 9 | $2,065,000 | $229,444 | $2,701 | 2.96% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 10 | $2,030,000 | $203,000 | $3,445 | 2.81% |
| Morehead City, NC (FHA|USDA|VA) | 9 | $1,975,000 | $219,444 | $3,424 | 2.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $1,835,000 | $203,889 | $4,282 | 3.33% |
| Georgetown, SC (FHA|USDA|VA) | 4 | $1,600,000 | $400,000 | $3,692 | 2.75% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $2,292 | 3.09% |
| Cullowhee, NC (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $5,339 | 3.29% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $5,260 | 3.05% |
| Bennettsville, SC (FHA|USDA|VA) | 10 | $1,110,000 | $111,000 | $5,243 | 3.35% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $4,692 | 3.88% |
| NEW BERN, NC (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $4,271 | 2.81% |
| OCALA, FL (FHA|USDA|VA) | 8 | $910,000 | $113,750 | $3,586 | 2.64% |
| BURLINGTON, NC (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $2,824 | 3.50% |
| Marion, NC (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,067 | 2.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $4,473 | 3.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $2,965 | 3.09% |
| Palatka, FL (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $7,920 | 3.04% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $3,123 | 3.00% |
| Orangeburg, SC (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $3,899 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,741 | 3.81% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $6,405 | 3.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $6,961 | 3.13% |
| Sanford, NC (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $2,354 | 3.96% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $1,843 | 2.25% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $2,458 | 3.19% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,125 | 3.06% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,123 | 3.00% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $15,767 | 2.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,933 | 2.94% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,108 | 2.88% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $2,475 | 2.54% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,476 | 3.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,132 | 2.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,472 | 2.75% |
| North Wilkesboro, NC (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $3,202 | 3.88% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,893 | 3.38% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,778 | 2.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $1,881 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,656 | 2.75% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,623 | 2.81% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $2,645 | 2.88% |
| Seneca, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,653 | 2.38% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,853 | 2.81% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,458 | 2.75% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,051 | 3.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,767 | 3.25% |
| Albertville, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,559 | 2.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,227 | 2.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,747 | 3.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,632 | 3.13% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,066 | 2.75% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,173 | 2.75% |
| Laurinburg, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,483 | 2.63% |
| Wilson, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,165 | 3.13% |
| Forest City, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,324 | 2.63% |
| Union, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,894 | 2.63% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,706 | 2.75% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,588 | 2.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,767 | 3.25% |
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Product Mix
For 2020, Resource Financial Services's most frequently originated type of loan was Conventional, with 2,338 originations. Their 2nd most popular type was VA, with 330 originations.
Loan Reason
For 2020, Resource Financial Services's most frequently cited loan purpose was Refi, with 1,607 originations. The 2nd most popular reason was Home Purchase, with 1,366 originations.
Loan Duration/Length
For 2020, Resource Financial Services's most frequently cited loan duration was 30 Year, with 2,477 originations. The 2nd most popular length was 15 Year, with 352 originations.
Origination Fees/Closing Costs
Resource Financial Services's average total fees were $3,954, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,031 originations.
Interest Rates
During 2020, Resource Financial Services's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,307 originations.
Loan Sizing
2020 saw Resource Financial Services place emphasis on $200k-400k loans with 1,522 originations, totaling $425,030,000 in origination value.
Applicant Income
Resource Financial Services lent most frequently to those with incomes in the $50k-75k range, with 654 originations. The second most popular income band? $100k-150k, with 641 originations.
Applicant Debt to Income Ratio
Resource Financial Services lent most frequently to those with DTI ratios of 20-30%, with 692 originations. The next most common DTI ratio? 30-36%, with 489 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.05%
Resource Financial Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination75.80%
Resource Financial Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,017 | $735,425,000 | $243,760 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 25 | $3,635,000 | $145,400 |
| Single Family (1-4 Units):Site-Built | 2,992 | $731,790,000 | $244,582 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Resurgent Capital Services L.P. | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| Resurgent Capital Services L.P. | Other type of mortgage | Trouble during payment process | 2 | 66.7% |